Originally posted by Michael Shadow:
Welcome to BiggerPockets Chris. It's good that you got your failed business out of the way. What all did you learn from it? What area of real estate do you want to get into?
-Michael
Michael,
First and foremost, the business failure taught me the importance of plans B,C,D, etc., and how dangerous the "ready, fire, aim" approach to business can be. I offered a very good service but greatly overestimated the frequency at which my clients would need it, so I never became profitable. A week of research would have saved me a lot of $$$.
My real estate goal, long term, is to own a couple hundred apartment units, and have them provide a nice chunk of retirement income. But, for now, I need to focus on building cash and credit, both of which were damaged due to my biz failure.
